Q3 2024 EPS Estimates for Beam Global Cut by B. Riley (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – B. Riley reduced their Q3 2024 earnings per share estimates for Beam Global in a research note issued on Wednesday, August 14th. B. Riley analyst R. Pfingst now expects that the company will post earnings of ($0.16) per share for the quarter, down from their prior forecast of ($0.13). B. Riley currently has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Beam Global’s current full-year earnings is ($0.71) per share. B. Riley also issued estimates for Beam Global’s Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.86) EPS and FY2025 earnings at ($0.19) EPS.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. The firm had revenue of $14.56 million for the quarter, compared to analyst estimates of $17.65 million.

Several other equities analysts have also recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $9.00 price objective on shares of Beam Global in a report on Tuesday, April 23rd. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Beam Global in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a research note on Wednesday.

Beam Global Stock Performance

NASDAQ:BEEM opened at $5.20 on Friday. The firm’s fifty day moving average is $5.65 and its two-hundred day moving average is $6.27. The firm has a market cap of $75.59 million, a price-to-earnings ratio of -4.00 and a beta of 0.93. Beam Global has a one year low of $4.30 and a one year high of $8.94.

Institutional Investors Weigh In On Beam Global

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of Beam Global in the 2nd quarter valued at about $48,000. PFG Investments LLC grew its holdings in Beam Global by 97.0% in the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock valued at $157,000 after purchasing an additional 11,348 shares during the period. Oak Family Advisors LLC grew its holdings in Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after purchasing an additional 5,181 shares during the period. Tidal Investments LLC purchased a new stake in shares of Beam Global in the first quarter valued at approximately $284,000. Finally, Vanguard Group Inc. raised its stake in shares of Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after buying an additional 107,200 shares during the period. 26.59% of the stock is owned by hedge funds and other institutional investors.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.